The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-06-21
AFFAIRS OF THE RAILWAYS.


Ane Operations OF Ives, Sfayner ~ Co.
CINc1NNATI, June 20-The Commercial Ga
sette to-day prints three-column special tele-
gram from New York, purporting to give the
inside history of the Baltimore & Ohio deal
with Ives Staynsr & Co. Tho main point of
the story is that Ives & Stayner made a con-
tract with Garrett, by which they were to get
controlling interest in the B. 81 0. for about
$1s O00 600; that they have paid Garrett 800 900
in cash, 800, 900 in certified check and Is. 800
shares of Cincinnati Hamilton Dayton
shares, preferred stock, and that they have
pro missed to make good the balance of
due payment of Sc, 900, 900 and take up the c.,
II. 81 DApfeferred stock out of proceeds arising
from their acquisition and consolidation of
rowgauee. roads In Ohio and Indiana The
final outcome is to be.A continuous road from
Balti more TO ST Louis, using the B. e. O. to
Parkersburg. the narrow gauges. changed to
Itan dard gauge from Parkersburg to IndianaDo-
lis, and the Vandalia thence to ST. Louis. The
special goes on to say that It is pro-
posed. at meeting TO be held here
tomorrow. to authorize the Cincinnati, Hamll
ton DAYTON directory to divert from
Its original purpose the proceeds of preferred
stock. authorized in September last for redeem
ing hoods and guaranteed stocks, SO that these
proceeds may be used for the general purposes
Of the company. The Commercial Gazette says,
editorially: IF they 1.-THE new owners of the G.,
III. q ID. are able to go on, gather in the b. %
o., and employ that as they have the c., II.
D., the country will have the benefit of about
as audacious job of adventurous financlering
culiarity that modiies the matter to a consider
Able extent. Nearly the whole of the stock of
the c., II. e. ID. is held by the parties who are
engaged in the manpulations. Whether the
few small stockholders left will take any inter-
est in the action tomorrow remains to be SEEN"
The meeting tomorrow is to take action in the
matter as stated above, and also to vote upon
the construction or lease of a branch line from
Hamilton to Mddetown. and upon guaranteeing
the stock of the United Railways Terminal Conn
pany Of Cincinnati
Testing the Power and Speed of an Engine.
The ARRANGEMENTS for testing the power. pres
sure, etc. of the fast engine, II. S. Goodwin. of
the LehiRh Valley road are nearing completion,
under the direction of professor and student of
the Lehieh Valley University. This test is ex-
pected to be the best ever given engine in the
United States, and, when finished, will aid the
professor in the instructions given by him in the
mechanical department of that institution The
tank of the epgire was, Saturday last filled with
water by the barrel, and each barrelful
weighed and gagged A glass water-gauge has
been placed on the side of the tank TO show the
lepth of water it contains while in service A
Elass water-gauge of the style used on station
AIRY boilers has been placed the right
Jide of the boiler Immediately above
The steam chest. This will be used by the pro-
lessor, who will be seated in front of the cyin-
aer-head. to ascertain the quantity of water in
The boiler while running at various rates of
fpeed, and TO learn the action of the water at
high and low depth. Another apparatus is be-
Ing attached to the boiler between the guides and
footboard of the right side of the engine to
pertain the quantity of water that enters the
boiler. Other arrangements are being placed on
the cross head, piston, cylinder and steam chest
on the same side of the engine to ascertain speed
per mile, the revolutions of the wheels the va
rious pressures, ETC., while running fast with
long and short trains Indicators will be at
tached to all the testing appliances